Latest Realty News

PUNE: After the success of its drive to recover dues from defaulters of property tax, the Pune Municipal Corporation (PMC) has decided to make the ground level civic staff accountable for failing to identify properties that have not been assessed for tax.

NASHIK: The Nashik Muncipal Corporation (NMC) is planning to impose a new tax on advertisement displayed on private properties and on vehicles. The issue is to come up for decision at the general body meeting (GBM) on Friday.

PUNE: After chief minister Prithviraj Chavan gave assurance of giving rebate in the property tax for Information Technology (IT) units, the standing committee of Pune Municipal Corporation on Monday approved a proposal of charging property tax from upcoming IT industries at residential rates and not commercial rates.

NAGPUR: The Nagpur Municipal Corporation (NMC) is all set to implement Pune Municipal Corporation's (PMC's) ready reckoner plus rental-based system to calculate property tax. "There will be upper and lower ceilings on increase or decrease of tax. It will not increase beyond double the monthly rent prevailing in the market nor will it fall below 50% of this amount," said NMC's tax committee chairman Girish Deshmukh.

PUNE: The civic administration, struggling to achieve the annual budget revenue target of Rs 4,167.5 crore, is now focusing on property tax collection. The administration has asked property owners to pay their taxes before approaching the civic body with tax-related grievances.

PUNE: In the last four months, the Pune Municipal Corporation (PMC) demolished 8.5 lakh sq ft using Rs 2 crore of the tax payers' money, a top civic official said.
An official, who declined to be named, said that since July, the civic body has demolished 900 illegal buildings. "Expenses include the money spent on manpower and machinery and depend on the size of the building. It can range from

PUNE: Waking up to the need to save the precious drinking water in the city facing a scarcity-like situation, members of the Confederation of Real Estate Developers Associations of India (Credai), Pune Metro, have taken a collective decision not to use drinking water at construction sites.
Satish Magar, president, Credai, Pune Metro, has issued a circular to its members informing them about th